Energy Markets
Southern California Edison announces a $925 million plan for rebuilding after the LA wildfires
Southern California Edison, a subsidiary utility Edison International said it submitted a plan on Friday to rebuild areas in its service area that were destroyed by the Los Angeles fires of January. SCE stated that the preliminary plan, which was presented to California Governor Gavin Newsom, is estimated to cost between $925 million and $860 million. Securing alternative funding sources, they added, was crucial to make this plan a success. Wildfires ravaged LA beginning on 7 January, causing dozens of fatalities and the destruction of thousands of homes. The cost of the disaster is estimated to have been the highest...